Bukalapak Reportedly Pockets Funding More than 3 Trillion Rupiah

Bukalapak reportedly raised $234 million in funding (over 3,4 trillion Rupiah) in a round led by Microsoft, GIC sovereign wealth funds Singapore, and EMTEK. Quoting from the report Reuters, other investors included in this round are SC Ventures, arm investment owned by Standard Chartered, Naver Corp.

Bukalapak representative when contacted DailySocial, said that this funding was completed last year, led by Microsoft and other investors. "We are also very grateful for the support given," he said.

From the statement, it was concluded that this $234 million round was the total funds raised in the series G round that took place last year. There are two stages in this round, first from GIC, Microsoft, and EMTEK announced in November 2020 for $100 million.

Then, the second phase took place in January 2021, led by Standard Chartered, followed by Naver and Mirae Asset-Naver Asia Growth Fund. Reportedly Standard Chartered injected funds worth $ 200 million.

EMTEK, which was one of Bukalapak's early investors, announced the acquisition of $150 million earlier this month, part of which came from Naver Korea.

In information disclosure, EMTEK had time to do top up investment twice for Bukalapak. However, EMTEK's shares are diluted to 34,49% today compared to the previous year due to the Series G funding round.

Previously, there was also news that Bukalapak, which is currently preparing to floor on two exchanges. Bukalapak reportedly appointed Mandiri Sekuritas as its underwriter for the domestic floor, before merging with the SPAC company in the United States.